Fannie Mae (FNMA)

[tcj]

This proposal as published in Bloomberg is very well thought out. The implication is that prfd will get their par, but existing common will be wiped out. The pps for new issuance under an IPO will not include existing common holders. Very appealing for gov to make a large profit on this proposal. Existing common are not catching on yet, but look out when people start to get it.